SBSI FY 2019 Earnings Report — Southside Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Southside Bancshares, Inc.SBSI

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$282M	—	$269M	—	5.0%
Op. Income	$88M	—	$84M	—	4.1%
Gross Margin	73.0%	—	75.6%	—	-2.6pp
Net Margin	26.4%	—	27.6%	—	-1.2pp
EPS (Diluted)	$2.20	—	$2.11	—	4.3%
Free Cash Flow	$65M	—	$109M	—	-40.6%

Revenue Flow

Item	Amount
REVENUE	$282M
Cost of Revenue	$76M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$81M
SG&A Expenses	$84M
Other Expenses	$34M
Operating Expenses	$118M
Cost & Expenses	$194M
OPERATING INCOME	$88M
Interest Income	$241M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$88M
Income Tax Expense	$13M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$12M
EBIT	$88M
EBITDA	$100M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$282M
Cost of Revenue	$76M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$81M
SG&A Expenses	$84M
Other Expenses	$34M
Operating Expenses	$118M
Cost & Expenses	$194M
OPERATING INCOME	$88M
Interest Income	$241M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$88M
Income Tax Expense	$13M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$12M
EBIT	$88M
EBITDA	$100M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$75M
Depreciation & Amortization	$12M
Stock-Based Compensation	$2M
Deferred Income Tax	$122.0K
Other Non-Cash Items	$18M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$81M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$980M
Other Investing Activities	-$278M
NET CASH FROM INVESTING	-$567M
Net Debt Issuance	$245M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$43M
Other Financing Activities	$274M
NET CASH FROM FINANCING	$476M
FREE CASH FLOW	$65M
Net Change in Cash	-$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$131M
Short-Term Investments	$2.4B
Net Receivables	$28M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$154M
Goodwill	$201M
Intangible Assets	$13M
Long-Term Investments	$3.7B
Tax Assets	$0
Other Non-Current Assets	$172M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$6.7B
Account Payables	$0
Short-Term Debt	$28M
Deferred Revenue	$0
Other Current Liabilities	$4.7B
TOTAL CURRENT LIABILITIES	$4.7B
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$38M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$5.9B
Common Stock	$47M
Additional Paid-In Capital	$767M
Retained Earnings	$80M
Treasury Stock	-$94M
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$805M
Minority Interest	$0
TOTAL EQUITY	$805M
TOTAL LIABILITIES & EQUITY	$6.7B
Total Debt	$1.2B
Net Debt	$1.1B